Tag Archives: healthcare

Gimv partners with Novicare to drive innovation and sustainable growth in specialized healthcare services.

GIMV
  • Novicare was founded in 2008, and now employs around 250 healthcare professionals delivering specialized medical and paramedical services to elderly and disability care institutions.
  • Gimv is pleased to support Novicare in response to the growing demand for specialized care services. Meeting this need requires the adoption of innovative, effective, and efficient solutions, while upholding the highest standards and quality of care, which are cornerstones to the Novicare model.
  • Gimv and Novicare will further invest in people and (digital) solutions, contributing to a resilient and sustainable Dutch healthcare system.
  • This transaction is part of a growth plan with the management team, who will continue to lead Novicare.

Novicare (novicare.nl) provides specialized medical and paramedical (geriatric) services to elderly care homes and disability institutions. With about 250 staff serving over 70 institutions and 4,500+ patients, Novicare stands out for its use of telecare, digital tools, and a “stepped care” model, enabling professionals to deliver efficient, high-quality care in collaboration with local partners.

At the core of Novicare is the healthcare professional. To support these professionals, Novicare provides a safe working environment with a strong focus on personal development and flexibility. Furthermore, Novicare is active in the education of new professionals. Thereby Novicare better retains scarce healthcare professionals and actively contributes to training the next generation.

As pressure on the Dutch healthcare system grows, Novicare plays an important role by helping to maintain care access, quality, and continuity through its stepped care model and local partnerships. Gimv will support Novicare’s continued growth to ensure optimal service for clients/ patients both now and in the future.

The partnership with Gimv aims to advance Novicare’s development of care models and its supportive and inspiring work environment for professionals. In line with IZA agreements, we will reinforce sustainable, locally embedded operations in collaboration with (local) sector stakeholders. This to ensure efficient and accessible care being delivered at the right place.

Jet Wiechers and Wencke van der Meijden, CEO and Deputy CEO, state: “Novicare is dedicated to supporting the healthcare sector through a focus on innovation and quality while striving to maximize our impact. Gimv is an ideal partner in this respect, given its strong track record in these areas.”

Elderd Land and Thomas Goudriaan, Partner and Principal in Gimv’s healthcare team in the Netherlands, declare: “We are excited to support Novicare in its mission to making specialized care available to everyone. Novicare uses technology and innovation to help healthcare professionals deliver more efficient and effective care. The company’s unique approach ensures that patients receive the right level of care at the right time, tailored to their specific needs and ultimately leads to optimal outcomes for patients by enhancing continuity, accessibility, and quality of care. This strongly aligns with Gimv’s ambition to support leading innovative companies to the benefit of society.”

Gimv will acquire a majority stake in Novicare from Gilde Healthcare. The investment is aligned with the Gimv ambition of investing in sustainable businesses together with talented management teams. The transaction is subject to customary (regulatory) approvals including works council approval.

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Holland Capital announces acquisition of HealthConnected by software company Visma

Holland Capital

Amsterdam, 27th of August 2025 – Investment firm Holland Capital, active in Healthcare and Technology in the Benelux and Germany, today announces the acquisition of its portfolio company HealthConnected to software company Visma.

With this acquisition, Visma further expands its healthcare portfolio. HealthConnected is a leading provider of primary care platforms, offering solutions for GP practices (HIS), out-of-hours GP services (HAPIS) and integrated and network care (NIS). Over the years, HealthConnected has proven its strength in developing valuable digital solutions for the healthcare sector. The company now joins Visma, alongside well-known healthcare providers such as Ecare, Therapieland, SureSync, Esculine and ZorgDomein. .

HealthConnected & Holland Capital

With support from Holland Capital, HealthConnected has developed into a leading platform for primary care, placing the healthcare professional at the heart of its mission. The platform’s user-friendly design helps care providers work more efficiently and spend more time with patients. Since 2020, Holland Capital has actively supported the company’s operational and strategic growth.

“I have seen HealthConnected’s journey up close and I am impressed by the team’s innovation and determination,” says Jan Frens van Giessel, Partner at Holland Capital. “With Visma as its new owner, HealthConnected has found the right partner to accelerate its growth, expand its platform and make an even bigger impact in healthcare.”

Paul Witteman, Founder and CEO of HealthConnected, looks back on a period of intensive collaboration with Holland Capital. “Collaboration is easy when everything goes according to plan, but it was precisely in the moments when this was not the case that Holland Capital truly proved its added value. That has been the foundation of a successful partnership.”

Primary care as a key link in digitalization

Visma specializes in cloud solutions that simplify and automate complex work processes, improving user experience and saving time. In healthcare, Visma’s ecosystem accelerates digitalization by improving integration and collaboration across systems.

“In our search for an innovative HIS provider, we identified HealthConnected as the perfect fit,” says Sander van de Merwe, Business Area Director Healthcare & Education at Visma. “Together, we can further scale the platform and bring strong parties under one umbrella. For example, HealthConnected and ZorgDomein can now collaborate even more effectively to address the challenges in healthcare. Boards, our joint solution for integrated and network care, already demonstrates the power of this partnership.”

Independent, with shared ambitions

HealthConnected will continue to operate independently with its own products, teams and partnerships, while benefiting from the synergies within the Visma group.

“This step allows us to innovate faster and support GPs with a platform that grows with their needs,” says Paul Witteman. “By joining Visma, we gain access to expertise in software development, security and privacy, as well as the strength of other Visma companies. At the same time, we will remain an independent organization, fully committed to openness and collaboration with other systems.”

Building a stronger healthcare ecosystem

Healthcare digitalization requires deep expertise, due to the diversity of applications, integrations and complex processes. For professionals, collaboration across the care chain is essential to support patients effectively. “Healthcare doesn’t need one all-encompassing system, but a strong ecosystem with collaboration, long-term vision and room for innovation,” says Paul Simoons, CEO of ZorgDomein, who will join the board of HealthConnected on behalf of Visma. “This acquisition allows HealthConnected and ZorgDomein to strengthen their partnership and build a seamless chain of systems. This benefits patients, healthcare providers, and creates new opportunities for our partners.”

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Launch of Leading Aesthetics Group

Bencis

As of August 2025, six highly regarded aesthetic clinics have come together under one name: Leading Aesthetics Group.

This newly formed group represents a significant step forward in the Dutch aesthetic medicine landscape. Each clinic brings a strong local presence, a loyal client base, and a reputation for medical quality and innovation. Together, they form a platform with nationwide coverage and the shared ambition to deliver high-end, doctor-led aesthetic care centred on long-term outcomes, safety, and trust.

The Clinics
• Arthur Ludlage, Cosmetische Kliniek – Haarlem
• Amstelzijde Kliniek – Amstelveen / Amsterdam
• ClausHoltz – Amsterdam
• Gooische Rimpels – Hilversum
• Van Rosmalen Kliniek – Rotterdam / The Hague / Nijmegen
• Haarkliniek De Kroon – Breda

All clinics will continue to operate under their own established names, retaining their individual identity and local reputation. Leading Aesthetics Group will serve as the overarching organisation, providing strategic direction, shared resources and a unified vision for growth. With nine locations across densely populated areas in the Netherlands, the group ensures strong regional coverage and accessibility.

A doctor-led platform with long-term focus.
Leading Aesthetics Group is built on a shared belief in high-quality, minimally invasive treatments with a medical, personalised, and future-oriented approach.
The platform’s core treatments include injectables, advanced skin and laser therapies, and hair transplant and restoration procedures. Treatments are exclusively performed by experienced medical experts.
“Our clients aren’t looking for a single quick fix, but for a treatment plan that evolves with their needs, now and in the future,” says Nicole van Riessen-Verschure, CEO of Leading Aesthetics Group.
“It is that long-term mindset, and the trust we build along the way, that connects every clinic in our group.”
“Our founders each bring over 20 years of pioneering expertise, not just in delivering exceptional results, but in redefining what aesthetic medicine can be. Their vision sets a new standard where innovation, integrity, and long-term care converge to shape the future of high-end cosmetic treatments.” CMO (Chief medical officer) of Leading Aesthetics Group, Annemarie van Rosmalen.

Supported by Bencis – built to grow
The group is backed by investment firm Bencis which has deep expertise in scaling multi-site healthcare businesses. A clear buy-and-build strategy is in place, focused on sustainable growth and consolidation in a fragmented market, both in the Netherlands and across Europe.
Leading Aesthetics Group benefits from medical excellence, operational synergies and a shared vision for continuous innovation. Each clinic retains its unique strengths while benefiting from a unified, scalable platform.

Looking ahead
This is the beginning of a new chapter.
The group is well positioned to lead in a fast-developing market, combining medical leadership, premium positioning, and strong client relationships.
Clients will immediately benefit from the collective expertise, integrated services and ongoing innovation across the platform.
With a clear ambition, a strong foundation and a doctor-led model, Leading Aesthetics Group is set to shape the future of high-end aesthetic care in the Netherlands and beyond.

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BGF announces successful exit from Panthera Biopartners

BGF

A leading SMO for clinical trials, Panthera has received a majority investment from LDC, with BGF reinvesting in the business as a minority shareholder.

12 August 2025
BGF announces successful exit from Panthera Biopartners

BGF has completed the successful exit of its investment in Panthera Biopartners, a leading UK site management organisation (SMO) for clinical trials. The business has received a majority investment from mid-market private equity firm LDC. As part of the transaction, BGF has reinvested and will continue to support the business as a minority shareholder, alongside LDC.

BGF first backed Panthera in 2022, completing a multi-million-pound investment alongside Gresham House Ventures, to help supercharge Panthera’s expansion plans.

Established in 2019, by co-founders Dr Ian Smith and Professor John Lyon, Preston-based Panthera supports a breadth of customers (including the world’s largest pharmaceutical companies and contract research organisations) with patient recruitment, and preparation and execution of clinical trials.

Panthera covers a range of therapeutic areas spanning Cardiovascular and Rheumatology, to Central Nervous System, Vaccines and Respiratory related trials. Leveraging an extensive proprietary patient database, the business enables highly targeted patient recruitment and efficient trial delivery.

Since receiving investment from BGF and Gresham House Ventures, Panthera has experienced significant growth and established a strong reputation in the clinical trials sector – strengthening its position as a leading SMO in the UK.

The business has expanded its national footprint, with two new site openings, broadened its capabilities into new therapeutic areas, and driven continued improvements in operational delivery, through digital innovation. Over the same period, the business has achieved rapid growth, with revenue increasing by more than 200%.

Stuart Young, CEO of Panthera Biopartners, said: “BGF has been a strong partner to Panthera, supporting our growth journey with strategic insight and operational expertise. Together, we’ve built a differentiated SMO model with strong foundations for scale.

“As we look ahead, we’re excited to be working with LDC, to further accelerate our expansion across the UK and into Europe, continue to grow our site network, and deliver larger, more complex clinical trials.”

The exit marks another successful outcome for BGF, which remains committed to backing ambitious founders and management teams driving growth across all sectors and regions.

Jill Williams, Partner at BGF, commented: “We’re proud to have supported Panthera through an exceptional period of growth, backing a highly capable team, in a growing and strategically important segment of the healthcare market.

“Since our initial investment in 2022, the business has expanded its UK footprint, entered new therapeutic areas, and enhanced its operational delivery through digital innovation. Panthera has developed into a market-leading SMO with a differentiated model. We’re excited to reinvest and continue our partnership, alongside LDC, as the company enters its next phase of growth.”

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BGF backs CWC Group, as part of £300m pledge to female-led businesses

BGF

ased in Northern Ireland, the family-owned specialist care provider has secured a multi-million-pound investment, to support its growth plans.

11 August 2025

BGF has made a multi-million-pound investment in CWC Group, a family-owned specialist care provider, based in County Down, Northern Ireland. The investment is the first BGF has made into a female-powered business, since it committed at least £300 million to the Invest in Women Taskforce’s funding pot, to support scaling female-powered businesses over the next five years.

CWC Group leadership team outside the company's head officeCWC Group’s Chief Learning & Development Officer Shauna Byrne, NXC Paula Kane, and Chief Executive Aisling Byrne

First founded in 1983, by sisters-in-law Monica Byrne and Imelda McGrady, CWC Group is a healthcare company that provides high-quality domiciliary, residential nursing and disability care, across seven locations throughout Northern Ireland. The business continues to be family-run, now operated by Monica’s daughters: Chief Executive Aisling Byrne and Chief Learning & Development Officer Shauna Byrne.

Commenting on the deal, Chris Nixon, Investor at BGF, said: “CWC Group has an exceptional heritage of providing high-quality care services to those in need. At a time when there is a shortage of quality facilities to meet demand in Northern Ireland, we’re looking forward to working with Aisling, Shauna, and the wider team, to expand their care home portfolio and continue to provide a vital service to communities across the province.”

BGF’s investment will support CWC Group’s acquisition of new sites and develop its service offering in specialist care.

The company has also welcomed Paula Kane to its Board, as Non-Executive Chair, and David Jones, as Non-Executive Director, to provide further expertise as the company scales. Paula was previously Founder and CEO of Ashdale Care Ireland, while David is an ex-Deloitte UK healthcare partner.

Aisling Byrne, Chief Executive of CWC Group, said: “This investment from BGF comes at an exciting time for CWC Group, and will enable us to take the next steps towards developing our care services for our service users and geographical footprint in Northern Ireland. We have a solid pipeline of new specialist care homes that will enable us to further support the NI Trusts with high-quality, dedicated care facilities for adults with specialist care needs.

“BGF’s investment, alongside the experience and know-how of our new Board members, will support the advancement of our ambitions, and retain exceptional levels of care and dedication to our service users that are at the very heart of our core values.”

CWC Group leadership, sisters Aisling and Shauna ByrneFamily-run CWC Group’s leadership team, sisters Aisling and Shauna Byrne

Andy Gregory, CEO of BGF, commented: “CWC Group has been built on deep expertise and a profound commitment to care. What stands out is not just the strength of its services, but the calibre and vision of its leadership. We’re proud for this to be our first investment, since making our £300 million commitment to female-powered businesses.

“As a founding member of the Invest in Women Taskforce, we have reaffirmed our determination to help shape a more balanced and representative entrepreneurial economy — one that reflects the full spectrum of talent across the UK.”

BGF’s pledge to invest in female-led businesses forms part of its overall commitment to invest £3 billion in high-potential businesses across the UK, over the next five years.

BGF CEO Andy Gregory speaking at our 2025 WEB (Women in Entrepreneurship and on Boards) Forum, in partnership with the Invest in Women TaskforceBGF CEO Andy Gregory speaking at our 2025 WEB (Women in Entrepreneurship and on Boards) Forum

Hannah Bernard, Co-Chair of the Invest in Women Taskforce, added: “Our recent data found that all-female founded businesses in Northern Ireland received just 2% of the nation’s total equity funding in 2024, compared to 78% for all-male teams. The Invest in Women Taskforce has been working hard to change this trend and it’s fantastic to see the capital starting to be deployed into such brilliant businesses across the UK. More investments like this from BGF are critically needed to support economic growth.”

“The first deployment by BGF from the Invest in Women Taskforce funding pool is a huge moment”, said Debbie Wosskow, Co-Chair of the Invest in Women Taskforce.

“We set out to create a generational shift in how capital is allocated, and the shift is starting to happen. BGF has identified in CWC Group a purpose-led business in its provision of care, but also one led by incredible women for four decades, to become the Ireland-wide network it is today. These types of female-run businesses are right under the noses of investors and are being overlooked.

“But this is just the start. The trend has been declining for so many years that we need much more action and much more leadership from institutions to join us in doing the same — and reap the benefits.”

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Servier and BC Partners enter exclusive negotiations for the sale of Biogaran

BC Partners Logo
  • BC Partners is excited to support Biogaran in building a French-headquartered, industry-leading supplier of high-quality generic medication.
  • Leveraging its deep pharmaceutical sector expertise, operational insight, and long-term capital, BC Partners aims to help accelerate growth while continuing to champion essential, affordable healthcare in France.
  • With nearly four decades of investment experience in France, BC Partners is a trusted partner to local entrepreneurs, founders, and management teams.

Servier, an international pharmaceutical company governed by a foundation, and BC Partners, a leading European investment firm, have today announced that they have entered into exclusive negotiations regarding BC Partners’ acquisition of Biogaran, one of France’s largest generic drug companies. The terms of the transaction were not disclosed.

Biogaran, a leader in the generic market in France and an active contributor to cost savings in the French healthcare system, was founded by Servier over 25 years ago. Over the years, the company has established itself as a key player in the pharmaceutical industry. Today, Biogaran offers treatments across the full spectrum of therapeutic areas — from everyday conditions to the most serious diseases — and supplies a wide range of medicines, including antibiotics, antidiabetics, and anticancer drugs.

In partnership with management, BC Partners will continue to build on the company’s position as a critical provider of generic pharmaceuticals to the French market, whilst helping to fuel further expansion in biosimilars and consumer healthcare products, which have been identified as major new cost-saving drivers for the French healthcare system.

BC Partners, founded in Europe, brings extensive experience in the French market, having invested more than €4 billion across France and the Benelux region since opening its Paris office in 1987. BC Partners combines this local presence with a strong track record of partnering with healthcare leaders and innovators, including investments in companies such as Pharmathen, Synthon, and France-based Havea, making it a natural partner of choice for Biogaran.

Cédric Dubourdieu, Partner and Head of France at BC Partners, added: “Biogaran is a recognised leader in the French healthcare sector, with a rich history and a compelling opportunity for continued growth. We look forward to helping drive the business forwards, in partnership with management, while respecting the vital role Biogaran plays within France’s healthcare landscape, and French society more broadly.”

Mark Hersee, Partner and Co-head of Healthcare at BC Partners, commented: “Biogaran is a pioneer in generic drugs, a market we know incredibly well, and one where we have developed tried-and-tested playbooks for growth over many years. Our experience in this space, from successful investments in generic pharmaceutical leaders such as Pharmathen and Synthon, means we are well positioned to help the company identify opportunities and boost its full potential.”

“We see this potential sale as a fantastic opportunity for Biogaran’s future. It is fully in line with Biogaran’s vision and strategy to consolidate our position as the leader in generic drugs in France, while expanding into new high-potential market segments. This would enable us to continue to fully embody our mission of contributing to the sustainability of the French healthcare system for the benefit of patients and healthcare professionals by ensuring better access to care. We look forward to working with BC Partners.” said Guillaume Recorbet, CEO of Biogaran.

“This project would be perfectly in line with the strategic orientations of Biogaran and Servier. On the one hand, this project would entail new ownership for Biogaran that would boost its development potential. BC Partners is a leading European investor and would be perfectly positioned to lead the next stage of development for Biogaran, in line with the interests of its stakeholders, which is a strategic condition for Servier. On the other hand, the proceeds from this transaction should enable Servier to accelerate its focus, particularly on innovative treatments in oncology and neurology, and to continue creating value in France, as we have been committed to doing for more than 70 years.” said Olivier Laureau, president of Servier.

Servier was advised by Lazard and Dentons for this project. BC Partners was advised by Rothschild & Cie, Kirkland & Ellis, Gide Loyrette Nouel and Eight Advisory.

The proposed transaction remains subject to the finalisation of definitive agreements, the appropriate employee representative processes, and the usual regulatory approvals.

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DentalXChange Announces Recapitalization with KKR to Advance Technology and Innovation in Dental Revenue Cycle Management

KKR

KKR’s strategic investment to accelerate DentalXChange’s product development and scalable growth to drive value creation across the industry

IRVINE, Calif.–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the recapitalization of DentalXChange (“DXC” or the “Company”), a leading provider of revenue cycle management (RCM) solutions for the U.S. dental market. In connection with the transaction, Bregal Sagemount exited its investment in DXC, following a successful strategic partnership with the Company.

As a critical technology partner for the dental ecosystem for over three decades, DXC facilitates more than two billion transactions annually and helps industry stakeholders navigate the complexities of dental RCM. The Company’s comprehensive product suite combined with strong collaboration with payers, providers, and practice management system partners has enabled DXC to deliver significant efficiencies in the ecosystem, which are poised to accelerate over the coming years.

“We seek opportunities where we can serve as differentiated partners with management teams to build world-class businesses that can positively impact the healthcare system. We have long admired the important role that DXC plays in the dental value chain, with its robust network and best-in-class solution set,” said Hunter Craig, Managing Director at KKR. “Customers consistently view DXC as a collaborative and innovative business partner, and we look forward to helping the Company further expand its capabilities and streamline operations for all stakeholders,” added Alex Ward, Director at KKR.

“KKR’s deep expertise across the dental landscape, experience with technology-led innovation and extensive network of key industry partners will meaningfully accelerate DXC’s next phase of growth,” said DentalXChange CEO, Paul Kaiser. “We look forward to expanding our use of automation and AI to reduce administrative complexity, enhance provider workflows, and create a seamless payer experience.”

“It has been a privilege to partner with the DXC team and support the Company’s growth through key investments in technology and talent,” said Bregal Sagemount Partner, Blair Greenberg. “We are proud of what we accomplished together and wish the team continued success in this next phase of growth,” added Phil Yates, Partner at Bregal Sagemount.

DentalXChange will continue to operate under its current leadership team, led by CEO Paul Kaiser.

As part of the recapitalization, KKR will support DXC to create a broad-based equity ownership program, which will provide equity to all employees at the Company, enabling the full DXC team to participate in growth and value creation. This broad-based equity strategy is based on the belief that team member engagement through ownership is a key driver in building stronger companies. Since 2011, 70 KKR portfolio companies have awarded billions of dollars of total equity value to nearly 170,000 non-senior management employees.

KKR is making its investment in DentalXChange through its Ascendant Fund, which invests in middle market businesses in North America as part of KKR’s Americas Private Equity platform.

TripleTree served as financial advisor to DentalXChange and Goodwin Procter LLP provided legal counsel to Bregal Sagemount. William Blair served as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to KKR.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About DentalXChange

Since 1989, DentalXChange has been on the forefront of modernizing and innovating dental claims creating dental RCM solutions that bring ease to the payments process. Today, it has grown to support a current base approaching 200,000 dental providers and connectivity to nearly 1,400 payer plans. Headquartered in Irvine, CA, through its own clearinghouse, state of art technology consisting of modern APIs, and secure Web portals, DentalXChange processes over 1B EDI transactions, consisting of more than 300MM dental claims annually.

About Bregal Sagemount

Bregal Sagemount is a leading growth-focused private capital firm with more than $7.5 billion of cumulative capital raised. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount has invested in over 70 companies in a variety of sectors, including software, information / data services, financial technology & financial services, digital infrastructure, healthcare IT, and business & consumer services. The firm has offices in New York, Palo Alto, and Dallas. For more information, visit the Sagemount website: www.sagemount.com (http://www.sagemount.com/) or follow us on LinkedIn. (https://www.linkedin.com/company/bregal-sagemount)

Media:
KKR
Brooke Rustad
Brooke.rustad@kkr.com

DentalXChange
Marci Sweet
msweet@dentalxchange.com

Source: KKR & Co. Inc.

 

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MannKind and Blackstone Announce up to $500 Million Strategic Financing Agreement

Blackstone
  • Strengthens MannKind’s capital structure with flexible, long-term, non-dilutive funding
  • MannKind to receive $75 million in cash at closing

DANBURY, Conn., WESTLAKE VILLAGE, Calif. and NEW YORK – August 06, 2025 – MannKind Corporation (Nasdaq: MNKD), a company focused on the development and commercialization of inhaled therapeutic products and delivery devices for patients with endocrine and orphan lung diseases, and funds managed by Blackstone (“Blackstone”) today announced that they have entered into an up to $500 million strategic financing agreement. The financing agreement provides MannKind with non-dilutive capital to advance its short- and long-term growth strategies.

“This strategic financing significantly increases our operating flexibility and provides us substantial access to non-dilutive capital on favorable terms, complementing our strong cash position,” said Michael Castagna, PharmD, Chief Executive Officer of MannKind Corporation. “The funding will support the expansion of our commercial team in preparation for the anticipated launch of the pediatric indication for Afrezza, if approved, continued pipeline advancement, potential business development opportunities, and general corporate purposes. Partnering with the Blackstone team on this transaction positions us to accelerate our next phase of growth and innovation.”

“MannKind has a strong commercial track record, diversified product portfolio, and exceptional management team,” said Jonathan Brayman, Managing Director at Blackstone Credit & Insurance. “This strategic financing provides flexible capital to support MannKind’s growth initiatives while positioning Blackstone as a long-term partner to the company. We believe access to our value creation platform and deep bench of life sciences expertise will support MannKind’s commercialization efforts, as well as its organic and inorganic pipeline.”

The up to $500 million senior secured credit facility consists of a $75 million initial term loan funded at closing, a $125 million delayed draw term loan (DDTL) available for the next 24 months, subject to customary drawdown conditions, and an additional $300 million uncommitted DDTL available at the mutual consent of MannKind and Blackstone. The facility bears interest at a calculated SOFR variable rate plus 4.75% (which may be increased by 25 basis points if a total leverage ratio is exceeded). The facility matures in August 2030 and does not provide for scheduled amortization payments during the term.

About MannKind
MannKind Corporation (Nasdaq: MNKD) focuses on the development and commercialization of innovative inhaled therapeutic products and devices to address serious unmet medical needs for those living with endocrine and orphan lung diseases.

We are committed to using our formulation capabilities and device engineering prowess to lessen the burden of diseases such as diabetes, nontuberculous mycobacterial (NTM) lung disease, pulmonary fibrosis, and pulmonary hypertension. Our signature technologies – dry-powder formulations and inhalation devices – offer rapid and convenient delivery of medicines to the deep lung where they can exert an effect locally or enter the systemic circulation, depending on the target indication.

With a passionate team of Mannitarians collaborating nationwide, we are on a mission to give people control of their health and the freedom to live life.

Please visit mannkindcorp.com to learn more, and follow us on LinkedIn, Facebook, X or Instagram.

About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s $1.2 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at https://www.blackstone.com/. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements about: financing plans, cash position, business development initiatives, commercial team expansion, the potential launch of the pediatric indication for Afrezza, if approved, the expected benefits of the senior secured credit facility, the ability of MannKind to drawdown the $125 million DDTL, and the availability of the $300 million additional DDTL. These statements involve risks and uncertainties. Words such as “believes”, “anticipates”, “plans”, “expects”, “intends”, “will”, “goal”, “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon MannKind’s current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the risk that the DDTLs may not be available to MannKind due to failure to meet required drawdown conditions or the inability to obtain consent from Blackstone, the risk that issues that develop in the preparation of data releases and filings may subject us to unanticipated delays, risks associated with the regulatory review process as well as other risks detailed in MannKind’s filings with the Securities and Exchange Commission (SEC), including under the “Risk Factors” heading of its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025, filed with the SEC on August 6, 2025. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.

AFREZZA and MANNKIND are registered trademarks of MannKind Corporation.

For MannKind:
Investor Relations
Ana Kapor
(818) 661-5000
ir@mnkd.com

Media Relations
Christie Iacangelo
(818) 292-3500
media@mnkd.com

For Blackstone:
Thomas Clements
(646) 482-6088
Thomas.Clements@blackstone.com

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BlackPeak Capital Invests in Affinity Life Care to Support Expansion of Romania’s Leading Elderly Care Network

BlackPeak Capital
BlackPeak Capital is pleased to announce a growth equity investment in Affinity Life Care, the leading provider of elderly care services in Romania.

This marks the first private equity investment in Romania’s senior care sector, underscoring both the sector’s growing importance and Affinity’s unique position in the market.

BlackPeak Capital Invests in Affinity Life Care to Support Expansion of Romania’s Leading Elderly Care Network

Founded with the mission to elevate the standard of elderly care in Romania, Affinity operates three high-quality elderly care centers in central Bucharest, with over 400 licensed beds. The company’s fully integrated model combines specialized medical teams, in-house rehabilitation, and warm, welcoming environments designed around the needs of each resident.
The new investment will enable Affinity to double its current capacity and expand into additional cities across Romania. This growth comes at a time of increasing demand for quality elderly care, driven by demographic shifts, rising consumer expectations, and pressure on public healthcare infrastructure.

We are glad and grateful to join forces with a partner who shares the same values and long-term vision

 

said Dragoș Nicolae Iamandoiu, majority shareholder of Affinity Group. “BlackPeak Capital’s investment represents a strong validation of our mission and our team’s ongoing commitment to redefining elderly care standards in Romania.”

At the center of what we do is our unwavering focus on both the medical and social well-being of our residents

 

added Andrei Motoc, CEO of Affinity. “With the support of BlackPeak Capital, we aim to further expand our network of high-quality homes, enhance our care and rehabilitation services, and continue building a supportive and sustainable work environment for our employees.”

Affinity represents the first investment by a private equity fund in Romania’s senior care sector, and we see it as a big responsibility towards current and future residents, employees, and the industry

 

said Virgil Chitu, Romania Lead at BlackPeak Capital, who will also join the company’s board of directors.

 

Affinity is uniquely positioned to lead the transformation of Romania’s elderly care landscape by combining medical quality, personal dignity, and scalable infrastructure. BlackPeak Capital is proud to support the next chapter of its growth.

Learn more about Affinity Life Care at www.affinity.ro

 

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Sava raises $19M Series A amid world-first clinical results for next-gen biosensor

Balderton

Sava, the London-based startup pioneering real-time molecular health monitoring, today announced $19 million in Series A funding, following promising early results from its clinical trial. The round was led by Balderton Capital (who previously led Sava’s seed round) and Pentland Ventures, with strong participation from new investors Norrsken VC and JamJar Investments. They were joined by other investors including True, Italian Founders Fund, Athletico Ventures, SOLO Investments and Exceptional Ventures. The round will help Sava accelerate regulatory approval and commercialisation of its next-generation wearable.

Founded in 2019 by Imperial College London bioengineers Renato Circi and Rafaël Michali, Sava’s mission is to build the technological foundation for preventative and personalised healthcare. The team has developed a multi-molecule biosensor capable of detecting biomarkers just beneath the skin, in real-time. This proprietary technology is powering their first product – a pain-free CGM that streamlines molecular insights in real-time to your phone, at a fraction of the cost of current alternatives.

10+ days of continuous glucose monitoring: a world-first for microsensors

Sava’s latest clinical trial, conducted independently by third-party investigators across sites in Oxford and Cambridge, involves 50 patients with Type 1 and insulin-dependent Type 2 diabetes.

Early results from the first 25 patients showed Sava’s proprietary technology delivered reliable, accurate glucose readings for up to 10 days of continuous wear – a milestone no other microsensor platform has been able to achieve to date. Most microsensor systems fail to last 5 days, and many struggle beyond 24 hours. The trial, designed in collaboration with leading diabetes clinicians and regulators, provides a critical foundation for future regulatory submissions and Sava’s pivotal study, set to launch in the coming year.

This clinical trial marks a pivotal moment not just for Sava, but for the future of biosensing and personalised healthcare. The data generated so far has shown that our technology has the potential to match the performance of leading CGMs in the market today, without the invasiveness or high cost of filament-based systems. It paves the way for a completely novel approach to biosensing that can redefine the way we approach not only chronic disease management, but any health goal.

Rafael Michalico-founder and co-CEO, Sava

Redefining diabetes care: pain-free, low-cost and accessible 

Today, only 1% of people with diabetes use CGMs, yet this group generates over $11B in annual sales, growing 10% year-on-year. Existing devices are often painful, expensive, and inaccessible. Sava’s device promises to transform diabetes care and expand adoption of CGMs by offering a pain-free, cost-effective and highly scalable alternative.

Understanding what’s going on in our bodies is the first step to improving our health. Sava’s innovation has the potential to democratise access to glucose monitoring, as well as many other biomarkers, making them more practical for the millions of people who need them but can’t afford or tolerate the current options. Beyond diabetes, which alone is one of the greatest health challenges of our time, their platform opens the door to an entirely new era of personalised health monitoring.

James WisePartner, Balderton

More molecules, deeper insights: enabling the future of preventative health

While tracking glucose is the first use case, Sava’s modular, multi-analyte sensing platform is capable of detecting additional molecules, providing users with the ability to unobtrusively monitor multiple biomarkers in real-time, paving the way for a future of preventative and personalised health. With interest growing among athletes and health-conscious consumers, Sava is well-positioned to tap into the global wearables market, which is projected to exceed $100 billion by 2029.

Glucose is only the beginning. We have built a modular platform, capable of multi-molecule sensing. New molecules will create new use cases. What we’re building here is not just a device, but a whole new technological foundation for personalised healthcare, where anyone can use a biosensor to understand their health in real-time, at a molecular level.

Renato Circico-founder and co-CEO

Looking forward

This latest round brings Sava’s total funding to $32 million, with backing from leading VCs, returning angel investors, along with funding from the EU and UK Government.

Sava’s team has rapidly grown to over 60+ people, including experts behind market-leading CGMs. The new capital will be used to further expand Sava’s world-leading team, advance automated manufacturing capabilities to reach target launch volumes, and accelerate the clinical validation of its microsensor technology.

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